Catalonia Is Gaining Back its Power

Catalonia gaining power

Catalonia is testing the boundaries of centralized power in Spain with the help of decentralizing blockchain technology.

Marsal said,

“The ION token and wallet will be completely open and public and based on the ethereum ERC-20 token standard.”

ION token will be “airdropped” when users decide to sign up for the project and install their ION wallet, the quantities given away will vary between 100 to 5,000 IONs.

The plan is to cover five municipalities in Catalonia starting in approximately two months from now. Marsal added that there will be 8.418 million ION distributed for the power in kilowatt-hours (kWh) per year produced by Catalonia’s combined nuclear power plants to be reflected. Marsal also mentioned their aim for a total solar production equals to one solar power plant. They want to establish the value of 1 ION to 1kWh although it may take years.

Regarding on how the token will work, the system will be using the average measurement of kWh in solar power usage wherein people will pay for their excess and for those who use less will be rewarded in crypto. This approach to electricity metering is proposed to offer more flexibility.

Related Cryptocurrency News